Every week we track the number of homes on the market that have offers on them and those that do not and create a ratio we call Pending Ratios.
As of Saturday July 10th , the pending ratio in Bellingham was 16% . Pending is the time frame between when an offer has been mutual accepted between the buyer’s and the seller’s of the home and when the title actually transfers hands. This give the buyer’s time to get the financing, do inspection, review the title reports and more.
Birch Bay had a pending ratio of 13%
Ferndale has a pending ratio of 13%.
The Lynden area in East Whatcom County has a pending ratio of 13%
The Sudden Valley pending ratio was 16%
To view a complete history of Whatcom County Pending Ratios or for other real estate statistics don’t hesitate to contact The Johnson Team at (360) 303-2734 or by email at Info@JohnsonTeamRealEstate.com
For more information on Bellingham Real Estate or to search for homes in the Bellingham and Whatcom County area visit www.JohnsonTeamRealEstate.com, your one stop Bellingham real estate and community information resource!
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What does this ratio tell you or your vendors/buyers or potential customers?
It’s also another way of saying that the price on the house was being haggled either by the buyer or the seller and unless both parties come to a mutual agreement that is beneficial to both!!!
We look at the ratios as a quick check on the rate of market activity compared to some point in the past. What is most interesting, however, is to track the actual active and pending listing numbers
On a weekly basis, they show us the activity level in each area and price segment of our local market. That can help with pricing a property for sale, because it lets us know if we can push the price point just a bit or whether we had better price very aggressively. It can also act as one indicator to a buyer of how aggressive they might want to be with an offer.
Over time they show us how the market is changing – up, down, the hot and cold spots. It is the most current forecasting tool we have.